California real estate forms and transaction help
Hi. I'm in California and am considering brokering my own deal for either a sfh or a multi-unit house hack that I plan to live in. I live in a relatively high cost area in southern California and prices quite high so I am trying to make a little in commissions to help with the affordability here.
I've had a brokers license for quite some time now but have never used it and frankly do not have a lot of transactional experience. With that being said, is there a good resource where I can get all of the necessary documents (preferably e-document) for a purchase? I tried doing a quick search on BP but failed to find anything. I know CAR has some forms you can purchase for non-CAR members but was wondering if there are any other good alternatives.
*Additionally, is it legal/possible to structure a deal with seller/seller agent to discount the agreed upon price in exchange for the seller NOT paying me commission?
For example, if we agree on a purchase price of $1M and a commission of 2.5% for buyer agent (me), could I:
1) Reduce purchase price from $1M to ~ $975,000 (less difference from making seller agent whole)
2) Agree to make seller agent whole (receive $25k gross commission)
I know this is penny pinching but I'd prefer this over a standard deal so that I could lower my property tax rate and also not incur income tax on the commission.
I feel that this wouldn't work as I would most likely have receive some amount of income for my services. If this is the case, what is the bare minimum?
Appreciate any feedback, thanks!